MI Technovation was testing the RM2.30 level during its intraday high. As the momentum indicator RSI has moved above 60%, there is a possibilibity it will break the immediate resistance of RM2.30, with a target price of RM2.49 followed by RM2.67. On the downside, support price is anticipated at RM2.12 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM2.30

Target: RM2.49, RM2.67 (time frame: 3-6 weeks)

Exit: RM2.12

Source: AmInvest Research - 29 Apr 2019